First Independent Mena Newspaper
Morocco has secured €450 million funding from German Development Bank (KfW) under three agreements inked Tuesday in Rabat by Minister Delegate in charge of the Budget Fouzi Lekjaa and Director of the German Bank for North Africa Daniela Beckmann. KfW is providing Morocco €100 million to enhance the Kingdom’s resilience to climate change and supporting […]
As Morocco’s tourism and travel industry are booming, IHG Hotels & Resorts, one of the world’s leading hotel companies, has announced plans to launch a luxury hotel in Morocco in Q4 2026. IHG said it signed a franchise agreement with Sirayane Hospitality, a local hospitality investor and operator, to develop Kimpton Marrakech, a 67-key luxury […]
On Tuesday, December 16, Mauritania’s Minister of Economic Affairs and Development, Dr. Abdallahi Ould Souleymane Ould Cheikh Sidiya, received a delegation from the OPEC Fund for International Development (OFID) in Nouakchott to sign a US$30 million budget support agreement. The delegation was led by Dr Mahmoud Khan, Director of Operations for Africa, and included Mr. […]
Morocco’s Foreign Exchange Office has introduced groundbreaking reforms allowing accredited agents to utilize electronic payment terminals for currency purchases against dirhams using international bank cards. Clients can also receive dirham-loaded prepaid cards, creating seamless circuits between international payment methods and the domestic economy. The measure responds to sustained international payment growth. According to the Foreign […]
Nearly 2,000 civilians were displaced from Sudan’s western city of Heglig in West Kordofan after a nine-day journey following the city’s seizure by the paramilitary Rapid Support Forces (RSF), local media reported on Tuesday, December 16. Qamar El-Din Mohamed, governor of White Nile State, said that 1,850 displaced individuals arrived in the city of Kosti, […]
The Alliance of Sahel States (AES), comprising Mali, Burkina Faso and Niger, has created a regional investment bank with an initial capital of 500 billion CFA francs (about $820 million), aimed at financing infrastructure and development projects across the three countries. The institution, named the Confederation Bank for Investment and Development (BCID-AES), is designed to […]
Morocco has launched a large-scale emergency operation to assist thousands of families affected by severe winter conditions, following the high instructions of King Mohammed VI, the Mohammed V Foundation for Solidarity said Tuesday. The “Grand Froid” operation aims to deliver urgent humanitarian aid to vulnerable communities hit by freezing temperatures, heavy rain and snow across […]
Moroccan telecom operator INWI said on Dec 16 it has landed the MEDUSA submarine cable in Nador, a move aimed at strengthening the country’s international connectivity and its position as a regional digital hub. The cable, developed by AFR-IX telecom, spans more than 8,700 km and is set to become the Mediterranean’s largest connectivity system, […]
Rabat will host the headquarters of the African Capitals of Culture Committee after African Union ministers unanimously endorsed the move at a meeting in Burundi last week, cementing Morocco’s role as a driver of cultural diplomacy on the continent. The decision, adopted during the fifth session of the AU’s specialized technical committee on youth, culture […]
Morocco’s central bank kept its benchmark interest rate unchanged at 2.25% on Tuesday, citing contained inflation and steady economic recovery, while projecting growth to reach 5% in 2025 before easing to an average of 4.5% in 2026 and 2027. Bank Al-Maghrib’s board, meeting for its fourth quarterly session of the year, said agricultural output is […]